Trend Micro - Public Comps and Valuation Multiples

Trend Micro Overview

About Trend Micro

Trend Micro Inc provides antivirus and other security products that protect the flow of information on PCs, file servers, e-mail servers, and the Internet gateway. The company operates through four geographic segments: Japan, North America, Europe, and Asia-Pacific.

Founded

1989

HQ

Employees

6.9K+

Website

trendmicro.com

Sectors

Cybersecurity
B2B SaaS
Horizontal SaaS

Financials

LTM Revenue $1.8B

LTM EBITDA $523M

EV

$5.0B

Valuation Multiples

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Trend Micro Financials

As of September 2025, Trend Micro reported last 12-month revenue of $1.8B and EBITDA of $523M.

In the same period, Trend Micro generated $1.4B in LTM gross profit and $224M in net income.

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Trend Micro P&L

In the most recent fiscal year, Trend Micro reported revenue of $1.8B and EBITDA of $505M.

Trend Micro expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$1.8B	XXX	$1.8B	XXX	XXX	XXX
Gross Profit	$1.4B	XXX	$1.4B	XXX	XXX	XXX
Gross Margin	80%	XXX	76%	XXX	XXX	XXX
EBITDA	$523M	XXX	$505M	XXX	XXX	XXX
EBITDA Margin	29%	XXX	28%	XXX	XXX	XXX
EBIT	$351M	XXX	$316M	XXX	XXX	XXX
EBIT Margin	20%	XXX	18%	XXX	XXX	XXX
Net Profit	$224M	XXX	$225M	XXX	XXX	XXX
Net Margin	12%	XXX	13%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Trend Micro including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $1.8B. EBITDA for the last twelve months was $523M. In the most recent fiscal year, Trend Micro achieved $1.8B in revenue and $505M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$1.8B	Analyst estimates available to subscribers	$1.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$1.4B	Analyst estimates available to subscribers	$1.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	80.2% gross margin	Analyst estimates available to subscribers	76.2% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$523M	Analyst estimates available to subscribers	$505M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	29.1% EBITDA margin	Analyst estimates available to subscribers	28.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$351M	Analyst estimates available to subscribers	$316M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	19.6% EBIT margin	Analyst estimates available to subscribers	17.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$224M	Analyst estimates available to subscribers	$225M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	12.5% net profit margin	Analyst estimates available to subscribers	12.6% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Trend Micro

This financial data table provides comprehensive performance metrics for Trend Micro, a company based in Japan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Trend Micro generated $1.8B in revenue over the last twelve months.
The company achieved $523M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $1.4B.
Net income over the last twelve months reached $224M.

Fiscal Year Performance

In the most recent fiscal year, Trend Micro reported $1.8B in total revenue.
Fiscal year EBITDA was $505M.
The company maintained a gross profit margin of 76.2% in the most recent fiscal year.
EBITDA margin for the fiscal year was 28.3%.
Net profit margin reached 12.6% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Trend Micro. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Trend Micro Stock Performance

Trend Micro has current market cap of JPY 976B (or $6.4B), and EV of JPY 764B (or $5.0B).

Market Cap Evolution

Trend Micro Stock Data

As of October 17, 2025, Trend Micro's stock price is JPY 7401 (or $49).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$5.0B	$6.4B	XXX	XXX	XXX	XXX	$1.70

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Trend Micro Valuation Multiples

Trend Micro's trades at 2.8x EV/Revenue multiple, and 9.9x EV/EBITDA.

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Trend Micro Financial Valuation Multiples

As of October 17, 2025, Trend Micro has market cap of $6.4B and EV of $5.0B.

Equity research analysts estimate Trend Micro's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Trend Micro has a P/E ratio of 28.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$6.4B	XXX	$6.4B	XXX	XXX	XXX
EV (current)	$5.0B	XXX	$5.0B	XXX	XXX	XXX
EV/Revenue	2.8x	XXX	2.8x	XXX	XXX	XXX
EV/EBITDA	9.6x	XXX	9.9x	XXX	XXX	XXX
EV/EBIT	14.3x	XXX	15.9x	XXX	XXX	XXX
EV/Gross Profit	3.5x	XXX	n/a	XXX	XXX	XXX
P/E	28.6x	XXX	28.4x	XXX	XXX	XXX
EV/FCF	16.8x	XXX	35.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Trend Micro Margins & Growth Rates

Trend Micro's last 12 month revenue growth is 3%

Trend Micro's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.2M for the same period.

Trend Micro's rule of 40 is 28% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Trend Micro's rule of X is 37% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Trend Micro Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	3%	XXX	2%	XXX	XXX	XXX
EBITDA Margin	29%	XXX	28%	XXX	XXX	XXX
EBITDA Growth	5%	XXX	16%	XXX	XXX	XXX
Rule of 40	28%	XXX	32%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	37%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	59%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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